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acc205 ashford university week 2




Question;Discussions;To participate in the following discussions, go to this week's Discussion link in the left navigation.;Accounting Cycle;Financial statements are a;product of the accounting cycle. Think about two different;companies: a manufacturing company, and a retail company. Why;would different companies have different accounting cycles? Would;you expect the steps of the accounting cycle to be the same for each;company? Why or why not?;Guided Response;Review several of your peers? posts and identify what steps of the;accounting cycle that you feel are the most critical. Respond to at;least two of your peers and provide recommendations to extend their;thinking. Challenge your peers by asking a question that may cause;them to reevaluate their position on the accounting cycle. Bank Reconciliation;What is the purpose of a bank;reconciliation? What are the reasons for differences between the;cash reported in the accounting records and the cash balance in the bank;statements?;Analyze several of your peers? posts. Let at least two of your peers;know what happens to the discrepancies between the book balance and the;bank balance. Could these differences just be written off?;Guided Response;A bank reconciliation reconciles the bank account balance per the books to;the actual bank balance. Outstanding checks, deposits in transit;and bank errors are reasons there are differences between the cash;reported in the accounting records and the cash balance in the bank;statements.;Exercise Assignment;To complete the following assignment, go to this week's Assignment link in the left navigation.;Revenue and Expenses;Please complete each of the exercises below in a word document. Save the;document, and submit to in week using the Assignment Submission;button.


Paper#45475 | Written in 18-Jul-2015

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